Portland General Electric Company $POR Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Portland General Electric Company (NYSE:POR) by 2.7% in the 4th quarter, Holdings Channel reports. The fund owned 2,805,796 shares of the utilities provider’s stock after purchasing an additional 73,185 shares during the period. Geode Capital Management LLC’s holdings in Portland General Electric were worth $134,680,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Portland General Electric in the fourth quarter valued at approximately $25,000. Private Trust Co. NA grew its position in Portland General Electric by 76.4% in the fourth quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 239 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Portland General Electric in the third quarter valued at approximately $27,000. Clearstead Advisors LLC grew its position in shares of Portland General Electric by 206.8% during the third quarter. Clearstead Advisors LLC now owns 856 shares of the utilities provider’s stock worth $38,000 after buying an additional 577 shares in the last quarter. Finally, NBC Securities Inc. grew its position in shares of Portland General Electric by 2,631.6% during the fourth quarter. NBC Securities Inc. now owns 1,038 shares of the utilities provider’s stock worth $50,000 after buying an additional 1,000 shares in the last quarter.

Portland General Electric Stock Up 1.6%

Shares of NYSE:POR opened at $49.68 on Friday. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 2.05 and a beta of 0.52. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $54.62. The company’s fifty day moving average is $50.85 and its two-hundred day moving average is $50.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.95 and a current ratio of 1.09.

Portland General Electric (NYSE:POR) last issued its earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). The business had revenue of $879.00 million for the quarter, compared to analyst estimates of $953.24 million. Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. Equities analysts anticipate that Portland General Electric Company will post 3.39 EPS for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th will be issued a dividend of $0.5513 per share. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.4%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, June 25th. Portland General Electric’s dividend payout ratio is currently 93.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on POR shares. Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research report on Tuesday, April 21st. UBS Group raised their price target on shares of Portland General Electric from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price target on shares of Portland General Electric in a research report on Thursday, February 19th. Barclays raised their price target on shares of Portland General Electric from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a report on Friday, May 15th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and an average target price of $51.00.

Insiders Place Their Bets

In other Portland General Electric news, Director Robert N. Hoglund bought 2,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $48.80 per share, with a total value of $97,600.00. Following the completion of the acquisition, the director owned 2,519 shares of the company’s stock, valued at approximately $122,927.20. This trade represents a 385.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the sale, the chief financial officer directly owned 31,897 shares in the company, valued at $1,563,909.91. This trade represents a 19.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.52% of the stock is owned by corporate insiders.

About Portland General Electric

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.